Southern Michigan Bancorp, Inc. (SOMC)

Southern Michigan Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	70.35	64.38	54.89	36.58	32.59	28.38
Interest Income on Investments	10.68	11.74	10.68	7.55	4.55	3.44
Total Interest Income	81.03	76.12	65.57	44.13	37.14	31.82
Interest Paid on Deposits	29.95	29.01	20.59	4.12	2.27	4.03
Interest Paid on Borrowings	5.35	6.02	5	1.91	1.55	1.12
Total Interest Expense	35.3	35.03	25.59	6.03	3.82	5.14
Net Interest Income	45.74	41.09	39.98	38.1	33.32	26.68
Net Interest Income Growth (YoY)	12.18%	2.77%	4.93%	14.36%	24.90%	2.11%
Trust Income	3.05	2.74	2.42	2.26	2.27	2.05
Gain (Loss) on Sale of Assets	0.22	-	-	-	0.01	0.02
Gain (Loss) on Sale of Investments	-0	-0	-	-0.67	0.01	-
Other Non-Interest Income	3.74	3.39	3.34	3.66	3.16	2.57
Total Non-Interest Income	9.65	8.49	7.74	7.38	9.02	8.4
Non-Interest Income Growth (YoY)	16.02%	9.73%	4.85%	-18.14%	7.33%	10.17%
Revenues Before Loan Losses	55.38	49.58	47.72	45.48	42.33	35.08
Provision for Loan Losses	2.22	1.01	0.95	0.28	1.5	2.6
Revenue	53.17	48.56	46.77	45.21	40.83	32.48
Revenue Growth (YoY)	9.79%	3.84%	3.45%	10.71%	25.74%	-3.13%
Salaries and Employee Benefits	22.6	20.77	18.7	16.97	15.06	13.31
Occupancy Expenses	2.38	2.05	1.81	1.68	1.57	1.52
Amortization of Goodwill & Intangibles	0.77	0.77	0.78	0.38	0.33	0.04
Selling, General & Administrative	9.77	9.4	9.31	7.41	7.24	6.59
Other Non-Interest Expense	3.9	3.43	2.82	2.7	2.52	2.23
Total Non-Interest Expense	39.42	36.43	33.42	29.13	26.71	23.69
EBT Excluding Unusual Items	13.75	12.14	13.35	16.07	14.12	8.79
Pretax Income	13.75	12.14	13.35	16.07	14.12	8.79
Income Tax Expense	1.79	1.74	2.44	2.58	2.36	1.4
Net Income	11.95	10.4	10.91	13.49	11.76	7.39
Net Income to Common	11.95	10.4	10.91	13.49	11.76	7.39
Net Income Growth	17.33%	-4.61%	-19.17%	14.75%	59.18%	-14.34%
Basic Shares Outstanding	5	5	5	5	5	5
Diluted Shares Outstanding	5	5	5	5	5	5
Shares Change (YoY)	1.41%	0.38%	-0.08%	-0.14%	-1.18%	-0.13%
EPS (Basic)	2.60	2.28	2.40	2.98	2.59	1.60
EPS (Diluted)	2.59	2.28	2.40	2.97	2.58	1.60
EPS Growth	15.69%	-5.00%	-19.19%	15.12%	60.82%	-14.21%
Dividend Per Share	0.630	0.600	0.560	0.520	0.480	0.460
Dividend Growth	6.78%	7.14%	7.69%	8.33%	4.35%	-
Effective Tax Rate	13.04%	14.31%	18.30%	16.06%	16.73%	15.96%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.